Click here to close now.




















Welcome!

News Feed Item

Prospero Receives San Luis del Cordero Project Back from Silver Standard After 5,135m of Diamond Drilling

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/14/14 -- Prospero Silver Corp. (TSX VENTURE: PSL) ("Prospero" or the "Company") announces that Silver Standard Resources Inc. ("Silver Standard") has decided not to proceed to the second year of drilling/evaluation pursuant to an option to joint venture agreement entered into in March 2013. Silver Standard completed a 15-hole 5,135 meter diamond drill program the results of which were provided in a news release dated March 3, 2014.

Before drilling, Silver Standard completed an IP survey and rock geochemistry over the project in Q3 2013. This survey identified three new areas of geophysical interest in the eastern La Puerta and India Bonita target zones. The diamond drilling program mounted in Q4 2013 and Q1 2014 was directed at these new targets as well as testing previously drilled areas which had carried encouraging results.

The targets, which had previous work, include:


--  The extension to depth of the old Santa Rosa mine of the approx. 600g/t
    silver found in earlier drilling;
--  The extension to the northwest of the Santa Rosa trend;
--  A deep chargeability anomaly under the limestone plateau located in the
    western zone, and
--  The extension to the east of the Santa Rosa East skarn zone.

Tawn Albinson, Prospero's Mexico City based President/CEO, said, "In discussions with the Silver Standard team at PDAC they noted that their goal was to identify the potential for 100 million ounces of silver. Evidently review of all the data has led them to conclude this first phase of drilling did not meet that expectation."

The drilling results from the 15-hole program are found below and shown on the attached surface map of the central portion of the San Luis del Cordero project.

Albinson notes, "Silver Standard was not encouraged to pursue further the high grade material in the Santa Rosa vein because of low tonnage potential. The focus ended up on the skarns in the Santa Rosa East skarn and a continuation of this contact." He added, "Cordero has seen an aggregate of 10,400 metres of drilling since 2007 which could allow calculation of a preliminary resource using an external Qualified Person. While the results Silver Standard turned up did not support the size potential they seek, Prospero firmly believes a still sizeable amount of ounces can be defined in the lower grade areas of the skarns and potentially a small standalone operation in the higher grade Santa Rosa area- or a combination of the two."

Prospero will continue to seek JV partners for Cordero for the silver potential and, in addition, explore further the deeper copper potential, which has been identified by other potential JV partners.

Discussion of results

The Santa Rosa vein and the Santa Rosa East skarn zones dip steeply to the south towards the shoulder of the intrusive body, which appears, in general, to dip to the north. The deeper holes drilled under the Santa Rosa vein (hole SSLC-13-20 and SSLC-14-31), and the Santa Rosa East skarn (hole SSLC-14-32) encountered mostly intrusive phases and multiple dikes that are related to a complex intrusive/sediment contact zone. The deeper holes encountered some weakly mineralized quartz and calcite veins, which are likely a late vein-forming event. The position of the deeper feeder zones of the Santa Rosa vein and the blind-to-surface Santa Rosa East skarn remain uncertain, and could be controlled by the north dipping intrusive/sediment contact zone. In this case it would be necessary to test the as yet unexplored deeper extension of this contact zone with drill holes directed from north to south rather than from south to north (which is the direction in which most holes have been drilled to date).

Hole SSLC-13-28 was drilled under alluvium covered ground to the north of La Puerta zone to investigate an IP anomaly. This hole encountered multiple quartz porphyry dikes and skarn and quartz veins with an intersection 24 meters in length with a grade of 20 g/t Ag 0.29% Cu, and 0.92% Zn. It indicates the porphyritic dikes and skarn mineralization persist further north than previously mapped at the surface.

Hole SSLC-13-30 was drilled towards the south to test the large La Puerta skarn (700 meters long, 130 meters wide) and also encountered quartz porphyry dikes and vein zones with significant silver values (62 to 72 g/t Ag). The skarn was not reached indicating it dips stepper than anticipated. Drill holes positioned closer to the skarn will be required to test La Puerta target at depth.

Most of the known mineralization in the San Luis Cordero project occurs along a horseshoe shaped zone that wraps around a sizable intrusive body 2.5 km long and approx. 1.5 km wide. Drilling to date has focused on the 2.5 km long northern border of the intrusive. The full length (1.5 kms) of the south-eastern flank of the intrusive body (from the Canal Zone in the SW to the La Puerta skarn to the NE) remains unexplored (see attached diagram) and has the potential to host Santa Rosa East skarn type ore bodies in the closer to surface environment, as well as for deeper skarn and/or porphyry style mineralization. Highly differentiated intrusive phases, including a broad swarm of quartz feldspar porphyry dikes and both prograde and retrograde stages of primarily silver-copper mineralization occurring close to the intrusive/sediment contact zone, all indicate a favorable environment to identify new mineralized zones.

Prospero drilled PSLC-17 in 2011 in the zinc rich "Canal zone". The intersection was 4.29 meters of 11.5% Zn, 96 g/t Ag and 0.4% Cu and no holes were drilled in this recent program. As noted above, all subsequent drill efforts focused on the northern border of the intrusive body.

The geologic level of the San Luis del Cordero porphyritic intrusives, skarns and veins remains high when compared to copper-rich skarn/porphyry deposits in Mexico. Exploration for potential deeper and more sizable copper-dominant mineralization will require deeper focused drilling.


----------------------------------------------------------------------------

                                             WIDTH
DDH        VEIN TARGET       FROM      TO (mts)(i) Ag g/t        Cu %   Zn %
----------------------------------------------------------------------------
SSLC-13-20 Sta. Rosa vein  270.90  273.35     2.45     No significant values
----------------------------------------------------------------------------
           Sta. Rosa E
SSLC-13-21  skarn          137.45  157.15    19.70  142.4        0.68   1.09
----------------------------------------------------------------------------
including                  141.00  144.05     3.05  386.0        0.53   1.39
----------------------------------------------------------------------------
SSLC-13-22 Sta. Rosa vein  172.35  177.95     5.60  196.4        0.16   0.36
----------------------------------------------------------------------------
including                  172.35  173.85     1.50  433.0        0.32   0.56
----------------------------------------------------------------------------
SSLC-13-23 Sta. Rosa vein  138.90  141.00     2.10  544.0        1.02   6.57
----------------------------------------------------------------------------
including                  139.90  141.00     1.10  834.0        1.74  10.45
----------------------------------------------------------------------------
           Santa Rosa
SSLC-13-24  vein?           11.08   12.10     1.02  115.0        0.14   0.98
----------------------------------------------------------------------------
           Sta. Rosa E
SSLC-14-33  skarn          196.55  198.45     1.90  275.0        1.44   1.15
----------------------------------------------------------------------------
including                  197.05  197.65     0.60  843.0        4.16   1.51
----------------------------------------------------------------------------
and        Skarn           144.32  147.45     3.13   23.9        0.45   1.16
----------------------------------------------------------------------------
           Sta. Rosa E
SSLC-14-34  skarn          137.30  139.70     2.40  185.0        2.09   1.82
----------------------------------------------------------------------------
including                  137.30  137.85     0.55 1020.0        6.59   0.23
----------------------------------------------------------------------------
           India Bonita IP
SSLC-13-25  anomaly        145.50  147.00     1.50  110.0        0.07   0.10
----------------------------------------------------------------------------
           India Bonita IP
SSLC-13-26  anomaly        248.87  251.95     3.08   16.5        ----   0.53
----------------------------------------------------------------------------

                                             WIDTH
DDH        VEIN TARGET       FROM      TO (mts)(i) Ag g/t        Cu %   Zn %
----------------------------------------------------------------------------
           Western deep IP
SSLC-13-27  anomaly                                    no significant values
----------------------------------------------------------------------------
           La Puerta north
SSLC-13-28  IP anomaly     381.25  383.65     2.40   37.8        0.92   0.75
----------------------------------------------------------------------------
           Skarn & quartz
and         veins          452.05  476.15    24.10   20.5        0.29   0.92
----------------------------------------------------------------------------
including  " "             455.02  456.25     1.23   54.3        0.85   3.08
----------------------------------------------------------------------------
including  " "             467.40  470.05     2.65   48.5        0.80   2.83
----------------------------------------------------------------------------
           Western deep IP
SSLC-13-29  anomaly                                    no significant values
----------------------------------------------------------------------------
           La Puerta
SSLC-13-30  dikes-veins    236.00  236.90     0.90   72.5        0.02   0.04
----------------------------------------------------------------------------
and        " "             244.70  250.90     6.20   67.0        0.03   0.05
----------------------------------------------------------------------------
and        " "             270.70  271.90     1.20   62.5        0.07   0.14
----------------------------------------------------------------------------
           Santa Rosa
SSLC-13-31  vein?          215.00  216.55     1.55  104.0        0.82   0.14
----------------------------------------------------------------------------
and                        220.60  222.65     2.05   38.9        0.08   0.22
----------------------------------------------------------------------------
SSLC-14-32 Skarn           205.20  206.35     1.15   44.3        0.21   0.31
----------------------------------------------------------------------------
           Sta Rosa E
and         Skarn?         350.75  352.15     1.40   22.7        0.68   0.02
----------------------------------------------------------------------------
and        " "             359.10  359.85     0.75   21.5        0.34   0.01
----------------------------------------------------------------------------

--  Widths represent intersected lengths. It is estimated most widths are
    within 70% of true widths. True widths will be reported at a later date
    once drill hole cross sections are interpreted.

Tawn Albinson, M.Sc., President of the Company, is a Qualified Person, as defined in NI 43-101, and is responsible for the technical content of this press release. A quality control program is adopted to ensure best practices in the sampling and analysis of drill core. Samples are shipped in sealed bags to ALS-Chemex Laboratory preparation facilities in Chihuahua City (ISO 9001). Shipments include intermittent standards and blanks. Sample pulps are shipped to ALS-Chemex Laboratories in North Vancouver, B.C. for analysis. All samples were assayed by multielemental ME-ICP41, and gold by ICP21 (Inductively Induced Plasma-Atomic Emission Spectroscopy) which consists of a 30 gram fire assay with an ICP-AES finish. Silver, lead, zinc and copper values in excess of 100 ppm, 1%, 1%, and 1% respectively were repeated with aqua regia digestion and with ICP-AES (Code OG46).

About Prospero Silver Corp.:

Prospero is a Canadian resource company with the majority of its staff based in Mexico and who work for its wholly owned subsidiary MineraFumarola, SA de CV (Fumarola). Prospero's objective is to quickly evaluate the properties currently optioned for their suitability to provide size potential and/or amenability for strategic joint ventures.

Forward-Looking Statement Cautions:

This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to the closing of a non-brokered Private Placement. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. Factors that could cause actual results to differ materially from these forward looking statements include, but are not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's inability to obtain any necessary permits, consents or authorizations required for its planned activities, and the Company's inability to raise the necessary capital or to be fully able to implement its business strategies. The reader is referred to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com, including the risk factors discussed in Prospero's November 27, 2009 prospectus. Except as required by securities laws and the policies of the TSX Venture Exchange, Prospero disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the map associated with this press release, please visit the following link: http://media3.marketwire.com/docs/Prospero_Silver_Corp_Map.pdf.

Contacts:
Prospero Silver Corp.
William Murray
Chairman
(604) 288-7813

Prospero Silver Corp.
Kirk Gamley
Contact Financial
(604) 561-3642

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
The Internet of Things (IoT) is about the digitization of physical assets including sensors, devices, machines, gateways, and the network. It creates possibilities for significant value creation and new revenue generating business models via data democratization and ubiquitous analytics across IoT networks. The explosion of data in all forms in IoT requires a more robust and broader lens in order to enable smarter timely actions and better outcomes. Business operations become the key driver of I...
Organizations from small to large are increasingly adopting cloud solutions to deliver essential business services at a much lower cost. According to cyber security experts, the frequency and severity of cyber-attacks are on the rise, causing alarm to businesses and customers across a variety of industries. To defend against exploits like these, a company must adopt a comprehensive security defense strategy that is designed for their business. In 2015, organizations such as United Airlines, Sony...
Skeuomorphism usually means retaining existing design cues in something new that doesn’t actually need them. However, the concept of skeuomorphism can be thought of as relating more broadly to applying existing patterns to new technologies that, in fact, cry out for new approaches. In his session at DevOps Summit, Gordon Haff, Senior Cloud Strategy Marketing and Evangelism Manager at Red Hat, discussed why containers should be paired with new architectural practices such as microservices rathe...
With the proliferation of connected devices underpinning new Internet of Things systems, Brandon Schulz, Director of Luxoft IoT – Retail, will be looking at the transformation of the retail customer experience in brick and mortar stores in his session at @ThingsExpo. Questions he will address include: Will beacons drop to the wayside like QR codes, or be a proximity-based profit driver? How will the customer experience change in stores of all types when everything can be instrumented and a...
It’s been proven time and time again that in tech, diversity drives greater innovation, better team productivity and greater profits and market share. So what can we do in our DevOps teams to embrace diversity and help transform the culture of development and operations into a true “DevOps” team? In her session at DevOps Summit, Stefana Muller, Director, Product Management – Continuous Delivery at CA Technologies, answered that question citing examples, showing how to create opportunities for ...
As more and more data is generated from a variety of connected devices, the need to get insights from this data and predict future behavior and trends is increasingly essential for businesses. Real-time stream processing is needed in a variety of different industries such as Manufacturing, Oil and Gas, Automobile, Finance, Online Retail, Smart Grids, and Healthcare. Azure Stream Analytics is a fully managed distributed stream computation service that provides low latency, scalable processing of ...
Everyone talks about continuous integration and continuous delivery but those are just two ends of the pipeline. In the middle of DevOps is continuous testing (CT), and many organizations are struggling to implement continuous testing effectively. After all, without continuous testing there is no delivery. And Lab-As-A-Service (LaaS) enhances the CT with dynamic on-demand self-serve test topologies. CT together with LAAS make a powerful combination that perfectly serves complex software developm...
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Any Ops team trying to support a company in today’s cloud-connected world knows that a new way of thinking is required – one just as dramatic than the shift from Ops to DevOps. The diversity of modern operations requires teams to focus their impact on breadth vs. depth. In his session at DevOps Summit, Adam Serediuk, Director of Operations at xMatters, Inc., will discuss the strategic requirements of evolving from Ops to DevOps, and why modern Operations has begun leveraging the “NoOps” approa...
As more intelligent IoT applications shift into gear, they’re merging into the ever-increasing traffic flow of the Internet. It won’t be long before we experience bottlenecks, as IoT traffic peaks during rush hours. Organizations that are unprepared will find themselves by the side of the road unable to cross back into the fast lane. As billions of new devices begin to communicate and exchange data – will your infrastructure be scalable enough to handle this new interconnected world?
In today's digital world, change is the one constant. Disruptive innovations like cloud, mobility, social media, and the Internet of Things have reshaped the market and set new standards in customer expectations. To remain competitive, businesses must tap the potential of emerging technologies and markets through the rapid release of new products and services. However, the rigid and siloed structures of traditional IT platforms and processes are slowing them down – resulting in lengthy delivery ...
In their Live Hack” presentation at 17th Cloud Expo, Stephen Coty and Paul Fletcher, Chief Security Evangelists at Alert Logic, will provide the audience with a chance to see a live demonstration of the common tools cyber attackers use to attack cloud and traditional IT systems. This “Live Hack” uses open source attack tools that are free and available for download by anybody. Attendees will learn where to find and how to operate these tools for the purpose of testing their own IT infrastructu...
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
Whether you like it or not, DevOps is on track for a remarkable alliance with security. The SEC didn’t approve the merger. And your boss hasn’t heard anything about it. Yet, this unruly triumvirate will soon dominate and deliver DevSecOps faster, cheaper, better, and on an unprecedented scale. In his session at DevOps Summit, Frank Bunger, VP of Customer Success at ScriptRock, will discuss how this cathartic moment will propel the DevOps movement from such stuff as dreams are made on to a prac...
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.